whitepaper 2018 - fanstime · disclaimer...
TRANSCRIPT
Whitepaper2018
“In the future, there will be various circles, and everyone lives in their own circle. This
should have been obvious in entertainment industry. When we talk about the star-making,
first, there shall be accurate fans clustering in social media, then they expose their affection
to the Mass Media. In this ecosystem, stars and fans reached a direct communication.”
By Wu Xiaobo
“The definition of news has been changed from an institutional privilege to a component
of such an ecosystem of information dissemination that accommodates all kinds of formal
organizations, informal groups, and individuals.”
By Clay Shirky
ContentsPART I. DESIGN CONCEPT...........................................................................................................9
1.1 VALUES.................................................................................................................................... 9
1.2 VISION...................................................................................................................................... 9
1.3 MISSION...................................................................................................................................9
PART II. CHALLENGES IN THE INDUSTRYAND SOLUTIONS..........................................10
2.1 CHALLENGES INTHE INDUSTRY................................................................................... 10
2.2 PROBLEM STATEMENT......................................................................................................11
2.3 SOLUTION: FANSTIME– NEWECOSYSTEMSOF THE FANECONOMYBASEDON
BLOCKCHAIN....................................................................................................................... 17
2.4WHAT ARESMART CONTRACTS?..................................................................................17
2.5 HOW DOES FANSTIME AIM TO SOLVE THE PROBLEMS OF THE
ENTERTAINMENT INDUSTRY USING THE BLOCKCHAIN TECHNOLOGY?........18
2.6 THE ECOSYSTEM............................................................................................................... 20
PART III. FANSTIME IMPLEMENTATION LOGIC....................................................................28
3.1 INDIVIDUAL IPVALUESYSTEM....................................................................................... 28
3.2 FANSTIME CHAIN................................................................................................................28
3.3 FTI TOKEN.............................................................................................................................30
3.4 TECHNICAL ARCHITECTURE...........................................................................................34
3.5 GLOBAL CONTEN DISTRIBUTION SYSTEM & COPYRIGHT IDENTIFICATION
SYSTEM.................................................................................................................................35
3.6 INTERNATIONAL CROWFUNDING PLATFORM FOR INDIVIDUAL IP..................... 37
3.7GLOBALMEMBERSHIP REWARDS SYSTEMOF INDIVIDUAL IP............................38
3.8 DIVERSIFIED PARTICIPANTS IN THE FANSTIME ECOSYSTEM CONTRUCTION
..............................................................................................................................41
PART IV. INTERPRETATION OF INDIVIDUAL IP VALUE SYSTEM APPLICATION........ 43
4.1 APPLICATION: TIME EXCHANGE....................................................................................434.2 APPLICATION: FANSRIGHTSMALL...............................................................................43
4.3 APPLICATION: EXCLUSIVETOKEN EXCHANGE........................................................44
PART V. FANSTIME IMPLEMENTATION ROADMAP............................................................ 45
5.1 ESTABLISHMENT OF INDIVIDUAL IP VALUE SYSTEM AND IMPROVEMENT OF
FANSTIME INFRASTRUCTURE....................................................................................... 45
5.2 GLOBAL ENTERTAINMENT CONTENT DISTRIBUTION AND COPYRIGHT
VERIFICATION SYSTEM....................................................................................................47
5.3 ESTABLISHMENT OF THE GLOBAL INDIVIDUAL IP CROWD FUNDING
PLATFORM............................................................................................................................47
5.4 ESTABLISHMENT OF INDIVIDUAL IP GLOBALMEMBERSHIP TOKEN SYSTEM47
5.5 EVOLVEMENT OF THE AUTONOMOUS ECOSYSTEM..............................................47
PART VI. FANSTIME GOVERNANCE STRUCTURE..............................................................49
6.1 FANSTIME FOUNDATION PROFILE................................................................................49
6.2 FANSTIME FOUNDATIONGOVERNANCE STRUCTURE.......................................... 49
PART VII. ESTABLISHMENT AND MAINTENANCE OF FANSTIME COMMUNITY....... 54
7.1 ESTABLISHMENTOFCOMMUNITY................................................................................54
7.2COMMUNITY CONSTRUCTIONAND EXPANSION......................................................54
7.3 COMMUNITY MAINTENANCE.......................................................................................... 55
PART VIII. ISSUANCE AND ALLOCATION OF FTI................................................................56
8.1CIRCULATION ANDEXCHANGEPLANNING................................................................ 56
8.2 EXCHANGEMODES AVAILABLE......................................................................................57
8.3 SPECIAL STATEMENT........................................................................................................57
PART IX. MANAGEMENT TEAM................................................................................................58
PART X. CONSULTING TEAM....................................................................................................60
PART XI. STRATEGIC PARTNERS & INVESTORS ......................................................61
PART XII. CONTACT.....................................................................................................................73
APPENDIX I: SUMMARY OF FANSTIME PRODUCT AND TECHNOLOGY UPDATING
.........................................................................................................................................74
Disclaimer
This document is created for information purposes solely, and should not be seen as adocument of financial, economic, investment, taxation advice or any other kinds of advice.
The information here was thoroughly researched, but there may be an oversight. It isnecessary to consult an independent financial advisor before participating.
The FTI token or any other token should not be seen as an investment or a stock or share.
Having the token doesn't give you right to any income from FansTime foundation or our
affiliates.
The document should not be seen as a call for an offering of stocks, shares or any securities
at all. The FTI token is a utilitarian token or native token of the FansTime blockchain, and it
may not be used outside the platform. We are not in charge of ensuring the worth of the
tokens increase. We will leave that to the forces of demand and supply.
Once you purchase the tokens, FansTime or its affiliate is not under compulsion to return
your funds to you, neither are we under compulsion to convert your tokens to fiat currencies
or other cryptocurrencies.
Having the token doesn't give you the right of ownership of FansTime or its associates.
There are numerous risks that come with using FansTime.
• Technological Risk
Every day, new technologies keep coming out in the blockchain technology. Since it is
still a new area, a loT has been yet to be uncovered. FansTime shall not be held
responsible for the outcomes of such.
• Jurisdiction Risk
Not every country is friendly to cryptocurrencies. Some have banned the virtual currency.It is necessary to research if your country falls into such countries. If yes, please do not
buy FansTime Tokens. FansTime shall not be held responsible for theoutcomes.
• Legal Risks
The legislation of different countries is different in many aspects. Some countries arewelcoming to cryptocurrencies, while others are not.
FansTime will not share the profiles or transaction records with unauthorized persons, but if
your country's regulation contradicts this, we will have no other option but to follow the rules
of your country. It is necessary to read up all the legal structures and rules concerning
cryptocurrencies and blockchain technology.
Though FansTime is invested in ensuring that the platform works and our users benefit
from our innumerable features, FansTime shall not be held responsible for any outcome or
consequence of participating. When you purchase the tokens or participate on FansTime,
you agree that FansTime will not be held responsible for any outcome or risks that may
come.
Abstract
There is a global misfortune in the entertainment world about the vices and shortcomings
perpetuated in the entertainment industry. This has turned the once glorious, most adored
industry into ruins by instilling fear in the minds of both the fanbase and the celebrities. There
is a downward slope in the way things are being run.
The introduction of the blockchain technology in the affairs of humanity has brought about a
change it the way things work and worked. The blockchain technology has brought about
decentralization to a once centralized world, eliminating the middleman and its role in
bringing ruins. The technology has been employed in various sectors like the finance sector,
agricultural sector, aviation sector, and many other sectors and testimonies abound towards
the revolution the technology brought to these sectors.
The entertainment industry is ready to face its fears to redeem its position in the sight of
humanity by employing the use of the blockchain technology. It aims to solve issues like
centralization, data piracy and privacy breach, inaccessibility, theft, and insecurity, etc.
This whitepaper maps out the challenges the industry faces, how these challenges are to
be dealt with and the benefits it has for both the stars and their fans.
Introduction
Traditionally, before acquiring wealth and stardom, stars make great investment in assets
first. Singers are qualified to sing in public after lyrics compilation, composition, image design
& planning, record planning, concert production and other processes, and are realized
through works and performances. Actors can have their masterpiece after the combination
of filming, directing, screenwriting, lighting, choreography, props, costumes, make-up,
marketing, and broadcasting, and then are realized through copyright sales and commercial
implantation. Stars help to shape the product brand of goods through the endorsement and
commercial presence, then obtain corresponding commercial returns. Due to the
dependence on capital and resource, the access to stars is controlled by the “company” and
“platform”, and the intermediate links are exploited layer upon layer. Today, star studios
establishment and personal branding has become a trend, trying to skip the intermediary
links for direct realization through the fans. There is already foundation available at both the
awareness and the industry level, but there is no universal solution for implementation. The
birth of blockchain technology manifests the hope of liberating individual values.
In the Internet era, e-commerce has subverted the traditional production and sales mode,
and has spawned Alibaba and other commodity economy giants that take efficient and
standardized transfer of products as their values. In the era of blockchain, we believe that
its reorganization of product transfer mode will drive us to create a production and
consumption cluster for the personalized products with individual IP labels. Traditional media
forms and the right of speech have been monopolized, the flow of information is subject to
the demands of mainstream ideology. Even the Internet has not changed this situation: Star
is the star trained by the minority, brand is the brand defined by the minority, and the trend
is the trend led by the minority. In the era of blockchain, we reconstruct the interpersonalconnection, and the connection between people and information; so that everyonecan choose a unique lifestyle, and each person can be directly linked to their ownfans.
In the new blueprint, every individual is equal and free with transparent information and
intelligent transfer. Every personality has its own fans; each kind of affection has room to be
released. Additionally, each “person” is an IP and can freely communicate with his fans,with smooth channel of value realization.
Part I. Design Concept
1.1 Values
FansTime believes the realization of “individual” value as human being is an important
driving force behind human civilization. We stand by the basic values of openness, freedom,
and enterprising spirits. The world will get better only when individuals get their potentials
fulfilled.
1.2 Vision
FansTime wants “individual” talents and potentials as human being to be cherished and the
personalized development of the individual IPs in distinctive ways, constant evolvement,
iteration and upgrading within an independent and autonomous positive ecosystem; We
want “individual” voices as human being to be cherished and mutual respect among
subcultures and mainstream cultures, popular and traditional cultures as well as grassroot
and elite cultures; Ultimately, we want “each and every individual” to be cherished, free from
man-made shackling “intermediaries” of technology, capital or authority.
1.3 Mission
FansTime is committed to building a new decentralized community where everyone could
be a star and/or a fan, to discover, explore, foster, and respond to the values of the individual
IPs.
Part II. Challenges in the Industry and Solutions
2.1 Challenges in the Industry
Data sharing or streaming platforms, as well as social networks make a lot of moneyyearly
from streaming the works of others, while many social networks earn from selling big data
to advertising firms, and other firms that utilize such data. Spotify may have been created to
combat data piracy, its act of exploiting those sharing files on its platform has negated
whatever intention that had made it start.
Spotify has over 160 million users, constantly streaming files. Last year, 2017, Spotify had
its, based on the SEC filing, annual revenue of $4.99 billion. From the huge amount that
Spotify earns, Spotify pays a meagre $0.006 to artistes.
The first quarter of 2017, Facebook made a profit of $1 billion dollars from solely from
advertising. This is ignoring the other means revenue flows into Facebook, yet users are not
rewarded. Users still have their data stolen.
Yearly, a lot of data records are stolen. The Breach Level Index believed that about five
million data records get stolen daily. Data is worth a lot and can be sold at black markets for
millions of dollars. The data theft is seen in big brands, and individuals alike. Data can be
stolen from anyone. Bug brands Luke Verizon, Equifax and Kmart lost an undisclosed
amount of data. The average price for every data stolen is about $141 in 2017. Cases of
data theft will continue to increase because the underlying security infrastructure for many
firms are hackable. This means that a better system should be created- theblockchain.
A lot is lost to data piracy yearly, and this has negatively affected those who were involved
in the creation of that data. The statistics are staggering. This shows that the effort and
money spent into creating a creative work is lost to piracy. When Napster was created in
1999, the US sales of music dropped by close to 50%, to $7.7 billion from $14.6billion.
This means that the reduced income came from data piracy. A lot of sites illegally carry the
works of others, without paying the owners. For five years within 2004 to 2009 more than 30
billion songs were downloaded illegally through data sharing sites. In 2009, NPD stated that,
in 2009, only about 40% of music procured by consumers living in the U.S was paid for
legally. The Frontier Economics a year ago stated that about $20 billion worth of music used
by consumers are pirated in the U.S.
The blockchain technology of FansTime can go a long way in cutting both data theft and
data piracy. These findings imply that there is a gap to fill and that is where the FansTime
come in.
2.2 Problem Statement
In 2017,the global pan-entertainment industry contributed a gross output more than US
$300 billion, among others the movie box office market exceeded US $40 billion (China and
the United States together accounted for 50%); Top 100 performing events earned overUS
$10 billion; The size of the TV series market exceeded US $30 billion. In the global e-
commerce market with a size of US $25 trillion, the economic benefits driven by the internet
celebrities exceeded US $15 billion. The above-mentioned economic figures are inseparable
from the driving force of various “fan” consumers.
In a broad sense, the new economic pattern driven by the “fan” consumption in the pan-
entertainment industry is often termed as “fan economy”, involving all the individual IP-
related segments within the 7 major industries, i.e. publishing, film, animation and comic,
games, music, performance, and sports. This shows the indispensable role of the fanbase
in the entertainment industry.
In a revolving world, it is expected that growth and development suffice at every point in time
to meet one need or the other. There has been a lot of issues plaguing the entertainment
industry despite the revenue generated from it. The big players in the entertainment industry
benefit from the problems that plague this same industry leaving the other players and the
fans disadvantaged. Every individual idolizes or better still loves one star (celebrity) or the
other either because of their charisma, their work or for some other reasons. Most times, it
is quite inaccessible for these individuals (fans) to get in touch with their favorite celebrities
to know what exactly is happening. The best they get are speculations, be it true or false,
from the press. Also, these fans give a lot to ensure their favorite stars are afloat, but they
get little or nothing in return. They rarely have access to important events like personal
meeting of the star of backstage passes. This implies that there is the need for a blockchain
technology that will remove the large valley separating celebrities from their fans. There
should be a token created for stars, available for their fans to buy, and procure items
customized by the stars or get access to elite events thrown by the stars.
Many stars groan under the pressure of their management companies. It was not surprising
when Michael Jackson, while alive had maligned Sony for destroying stars. Many
management companies are created solely to exploit the stars signed under them. A lot of
stars know this but can do nothing about it. The world is changing. A lot of aspects of our
lives are becoming automated. Why can't there be an automated system, where stars can
easily manage themselves with a smart contract technology? It definitely removes the need
for third parties or intermediaries who eat deep into their income and exploit them. With the
blockchain technology smart contract, an event planner, who needs a star to perform at his
event can easily enter into a contract with the star. The star gets paid, and the event planner
gets the star at his event. Simple and straightforward chain rather than the ambiguous
process faced in the present day.
A brand that wants to endorse a star does not have to go through the long bureaucracy chain
before the endorsement can be done. The brand brings up its conditions, create a contract
and upload them into the contract. If the star agrees to the contract, he assents. The smart
contract technology will ensure every condition of the contract are met before payment is
made. Away from stars, data privacy violation is a major problem to almost every human
who has a digital fingerprint. Many apps and firms are created to pilfer the data of their users
and sell them off to the highest bidder. Data is more expensive than gold, as a lot of
companies need data to ensure they sell more to their clients and make more profits. A case
of data privacy violation was the one done by Facebook. Have you ever refused to give
Facebook permission to go through your phone contacts, and suddenly, you start seeing
suggestions of those in your contacts as 'People YouMay Know'?
The data privacy violation is glaring. Have you ever searched out an item in a browser not
allegedly synchronized to a social network, and you log onto the social network to see
brands supplying the product you searched on, showing on hour social media account?
That's how the world is now. Nothing you have on your phone is safe, not even your private
items. Not only is your privacy violated, you earn nothing from your data being sold. Only
those who own the big networks benefit from your data and information being stolen. This
means that someone can easily steal your work and pass it off as yours, especially when
you don't have a copyright on the work. This case always repeats itself and is usually
between a large brand and an individual. The large brand is always the one stealing the
ideas of individuals and refusing to pay for them. A big example can be seen in the movie,
'The Transformers'. Earlier this year, an artist was at loggerheads with a management
company because the management company stole her artwork, removed her watermark,
and passed it off as theirs. When she confronted them, instead of apologizing and offering
compensation, they treated her like a piece of trash. This is what a lot of creative humans
face daily. The blockchain technology can easily provide proof of who owns the technology.
How can you verify the true owner of an idea or artwork, since many people may lay claim
to it, especially if it is not copyrighted?
Payment systems are usually fraught with numerous problems. If their users do not squeeze
their faces at the high charges they have to pay, they must be annoyed at the long delay
that ensues when payments must be done across boundaries of countries. Going down the
lane of finance, it has been noticed that a lot of entrepreneurs with smart ideas are incapable
of fueling their dreams and turning them into fruits because of lack of funds.
Facebook has come under fire a lot from different bodies for their violation of their users’
privacy. Every phone that has the Facebook app on it have had the data and information
collected, analysed and sold to third parties that pay millions for the analysed data.
Facebook was earlier maligned for its involvement in the Cambridge Analytica Crisis.
Facebook was also sued by three users because its app copied their call logs and saved on
their server. All these are done in a bid to increase profit. That’s not all. Many of the apps
created are designed to mine for cryptocurrencies. Some may ask for your permission.
Others would mine without permission. Using only your phone will not provide the energy to
mine, but when millions of humans have the app on their phones, mining is possible. This
has led to some phones’ CPU damaging and the phone batterydraining
One of the greatest thing that has happened to the entertainment industry is the introduction
of Spotify, an online application through which data piracy is dealt with, freeing musicians
from the shackles of piracy. Although, Spotify may claim that they steam songs, and protect
the rights of song owners worldwide, but, that is not true. Spotify may be a brand to reckon
with, but they are known to cut corners to earn more profit. An example of its illegal activities
of cutting corners could be seen when the Ministry of Sound sued them to court. The Ministry
of Sound is a dance company that creates dancehall music, and other genres of music that
their listeners can dance to. With the songs, they create videos, showing new dance styles.
The Ministry of Sound is also an event company that throws parties in major cities of the
world. They have diversified into the night club business. Many Spotify users were caught
recreating the compilations of the Ministry of Sound, without permission. They did not only
copy the playlist, they went ahead to use the MoS artwork, and name. MoS sued Spotify
when they refused to delete the playlists. Though, they may have settled their differences
without long court cases, Spotify has still refused to delete the playlists. Spotify only agreed
to remove them from their search engines and disable the follow button. Many data sharing
platforms are like Spotify. That is why FansTime was created.
Problems Well-Explained
Centralization
In the traditional market structures, the irreversible trend of the advantaged players
constantly getting accumulated advantages, also known as the Matthew Effect, results
in the monopoly of superior resources by major platforms and corporate players, who
can therefore manipulate the public attention and seize value and earnings
correspondingly. The bargaining negotiations among magnates will determine the
overall layout of the industry while the popularity, network flow, sales turnover and
public visibility of the individual IPs will be determined by the online marketers’ insight,
access to resources and their profit-sharing arrangement with the channel partners.
Well-funded producers can assemble the best cast, best crew and best promotional
channels in the industry and advantaged in negotiations with channel partners for
securing higher visibility and easier access to more users, they are therefore more
likely to earn more profits. The channel partners have accurate understandings of data
performance at each spot and they would, based on the platform rating preferences
and profit margins, work out for which product, whom or what brand the resources
shall be deployed, or even customize the contents, persona, or brands accordingly in
line with the data to secure the maximum profits. For now, in the game between the
product suppliers and traffic providers, the flow channel got 50% to 90% of the profit
which should belong to the real value creators and traffic providers. Because of the
different player involved backstage, there seems to be a lot of exploitation of these
stars with the fans bearing the grunt. The rise to stardom is high with most willing to
be exploited just to climb the ladder. In effect, the fans get to pay the price out of their
love for these artists. Under false pretense, it appears, the star is the one profiting
whereas, most of the funds goes to the agencies and other big players involved.
Centralization also leads to third party interference, non-compliance of agreement, etc.
Flood of Lies
Under the context of the internet, the information is being transmitted at exponential
level in terms of both the speed and volume, the marketing approaches are getting
increasingly impetuous and aggressive with common occurrence of abusing the
portraits of stars or celebrities as marketing agents and swindlers misrepresenting the
stars or celebrities for illegal gains. For instance, a P2P platform once falsely claimed
having a well-known star as its brand spokesperson in a reckless marketing drive. Later,
the platform fell into a funding crisis and its founder escaped, the platform users turned
instead to the “spokesperson” for compensation. This star, however, replied he/she was
a victim of the portrait rights infringement and had not ever been paid for it by any
platform. Celebrities are frequently subject to infringement of reputation and portrait
rights which are difficult to ascertain or track down. The internet world is suffused with
lies like this, damaging the interests of both the stars and fans and extremely restricting
the healthy development of the fan economy.
Exploitation by Agencies
Nowadays, many resource brokers acting as the connection points among people have
grabbed the benefits instead of creating the real value through information asymmetry.
They often charge very high agent fees with back-to-back contracts and come out to
be the biggest beneficiary. Big data and AI have become the standards of the
mainstream platforms, but the centralized platforms mainly seek the maximum
commercial interests for the platform owners and making profits through brokers. The
traditional stars and celebrities, without media under their own control, have no choice
but to cash in on personal values through the platforms and brokers. Locked in the
brokers’ exploitation, both the interests of the stars and those of the fans have been
infringed.
Spotify pays an artist, an unsigned one, a paltry 69 cents. This means that to make
minimum wage, the music most be downloaded about 1,826 times every month. Why
can't a platform like Netflix be created for music? In this case, the music cannot be
streamed until the album has been sold.
Restricted Channels for Cash-In
Both the traditional industries and traditional internet are centralized and most
segments are dominated by a handful of magnates. As for stars, they need brokers or
platforms to provide the funding, product planning and opportunities so they can get in
touch with the fans, provide them with values and exchange values with them. As for
fans, theymust go back and forth over different APPs only to hear songs of idols, shuttle
across multiple websites and adapt to diversified membership systems only to watch
dramas starred by their idols and moreover they must register accounts in different
platforms to compare prices and purchase products concerning their idols. Stars as
individuals could be weak because of the expensive marketing and lack of kick-off
funding. They must reply on the packaging team, corporate resources, and data traffic
of the platforms. Stars have to follow the unspoken rules all the way through their career:
Retaliatory harvesting on the overnight sensation, entertainment stars breaking off
agreement after rising to fame, artists getting abandoned after offending
tycoons...”Stars” as the core products in the entertainment industry are often placed at
a disadvantage which would deprive “stars” of impetus to produce quality IPs and then
fans of quality experience, finally resulting in a multi-lose situation.
Expensive Nature of Payment Solutions Available
For a lot of humans, paying bills or receiving funds through the available payment
system is frustrating because a lot of these traditional payment systems take a lot of
time to process payments, especially when it is transnational. Users of these systems
are billed with expensive charges that cut deep into the profits or funds they are
receiving or sending.
PayPal, for examples, takes about 3% of the funds you are receiving if you are a
merchant, plus thirty cents for every transaction. This means that as a merchant if your
profit in the transaction is 3%, you have lost your profit.
Inaccessibility
There is a huge gap between the fans and the stars. This is not a good one as in the
actual sense, these stars became stars because of the wide popularity among the fans,
that is, the fans made them. The way it is being operated, the fans cannot access their
role models without having to pay a huge some for it.
2.3 Solution: FansTime – New Ecosystems of the Fan Economy Based
onBlockchain
These problems are a whole lot of work no doubt and if not attended to, there might be a
further decline of the entertainment industry. This is the role FansTime has come to play.
FansTime is built on the Ethereum Blockchain Technology and it plays a major role in solving
the issues plaguing the industry. This technology has been employed by major industries
across the globe and it has yielded positive results by bringing stability, restoring the glory
of such industry. The goal of FansTime is to create a platform, a decentralized one whereby
stars and fans can relate better without any form of interference, yet in a very affordable way.
The major feature of the Ethereum blockchain is the Smart contract and without doubt, this
feature is going to be employed to solve the problems facing the entertainmentworld.
2.4 What Are Smart Contracts?
The smart contract is just like a contract, an agreement that lists out the distinct roles two
parties are to play in achieving a defined task or objective. This time around, the smart
contract is more than the normal contract as it extends towards being an automatic one. For
example, user A wants to wants to make an exchange with user B, user A creates a contract
with the instruction that send 20 IFS to user B if user B comes online by 4pm. This instruction
would be automatically carried out even if user A goes offline at that moment. The smart
contract is designed to execute instruction itself without the interference or influence of a
third party. The contracts can be very complicated as well. The smart contract is responsible
for providing the FansTime platform with a transparent, verifiable, and secured means of
executing, storing, and sending instructions. Some benefits of the smart contract include:
Decentralization
The smart contract provides autonomy and independence, eliminating the presence of
any middleman. The smart contract provides a peer-peer interaction between users.
Trust and Transparency
The issue of mistrust is sorted out with the use of the smart contract has everything and
every information is laid bare for every participant to see. If a user is not satisfied with a
contract, he has the ability to reject such contract leaving the other participant(s) to
modify the contract.
Speed and Security
The smart contract provides security of information. Once a data or information has been
uploaded, and the contract has been approved and running, there is no turning back.
Such a contract cannot be deleted without both party consent. As long as the users have
their private keys kept hidden, there is no possibility of fraud. In fact, the contract cannot
be deleted from the blockchain because there is usually over duplication of data on the
system. What would happen is that the contract would be discarded and a new one
created.
2.5 How Does FansTime Aim to Solve the Problems of the
Entertainment Industry Using the Blockchain
Technology?
FansTime aims to solve the problem of the entertainment industry by eradicating the
presence of the middlemen. Here, the middlemen are the agencies, the media and every
other institution that tends to stand between the star and the fans. FansTime aims to take
the position of these institutions, bringing them all together in one. The following are the
solutions the FansTime offers:
2.5.1 Decentralization
With the Ethereum blockchain technology, monopolization by the big players can be
eradicated. This is to be done by giving these stars a laid down platform such that there
is no need for a record label for musicians, agency whatsoever, giving ever individual
equal chance for survival. The FansTime platform would play the managerial role, linking
stars with their fans. This way, there is no allowance for manipulation or exploitation.
Pure talent would be the only basis through which public attention and value can get to
increase. The higher the fan base, the more valuable the star would be.
Decentralization allows each star manage themselves by forcing the real time
manager out of business for their atrocities.
Also, the real players are those who are truly good. Without the hype, the money, the
promotions, and all, how good is the star in question? The battle for the best would be
purely based on talent, hard work and commitment. more so, profit sharing would not
be based on selfishness any longer.
2.5.2 Managerial Platform
FansTime aim to provide every star and star to be a platform where by every managerial
duty would be done by themselves. The platform is designed as a virtual managerial
office with every tool needed to skyrocket an artist already pre-designed. This way there
is no room for managers using raw talent to enrich themselves. In traditional
entertainment, what these managers do is to scout for exceptional talents, brand them,
show them off to the world and make huge sum of money off them while giving them just
peanuts. FansTime is going to put an end to that by giving every talented individual
equal chance to fight for recognition and yet earn what they deserve. Through this
platform, stars can interact with users, receive recommendation and suggestions. They
can even decide to have a show if there is a clamor by the fans. Organization of
concerts;Shows become automated with only few physical hands participating in the
set up. Payments are automated, tickets sales also with the necessary payment for
logistics and all being done online.
2.5.3 Communication and Accessibility
For whatsoever unknown reason, stars have not been able to meet their followers, I
mean real followers. Through the smart contract, a star is able to account for true fans.
The star would create an open contract, more like a portfolio in which their fans get to
accept and as such, follow up on the star. If a fan is not pleased with a star, he has a
direct link through which they can express their grievances. More so, through the
platform, these stars can let their true fans have exclusive truths about events rather
than rely on the media. This reduces the amount of lying that takes place in the industry
daily. It also reduces the high rate of impersonation and fraud rate that occurs. If anyone
is going to be duped by an impersonated star, that person was not a true fan of the real
star.
2.5.4 Protection of Data and Affordability
The platform offers exclusive protection to the product of every star at an affordable cost.
Fans would be able to download songs and other entertainment product through a
secured channel for a certain amount of money. This money belongs exclusively to the
musician in question with only little percentage going to FansTime. This way, exploitation
is eradicated and true wealth is gained. Also, musician for instance can upload a track
and it would be exclusively for his fan base. Data is protected on the platform. Nobody
can take your details without your permission on this platform.
2.6 The Ecosystem
Establishment of FansTime is by no means accidental. Most core members of its founding
team, with years of experience in the fan economy have deep understandings of its troubles
in the current market environment. The troubles are hurting the stars and fans as well as
the fan economy. As practitioners, the FansTime founding team has been committed to the
overall upgrading of the industry by taking multiple initiatives. Meanwhile, thanks to the
ever-developing Blockchain technology and ever-growing number of application scenarios,
the FansTime team has found it the right solutions for some of the core industrial headaches
and would like to devote more time and efforts to relevant development and maintenance.
The FansTime ecosystem is more than just a platform where stars and fans meet it is also
a cryptocurrency and a platform where you can sell your artwork. The FansTime ecosystem
is a triple based platform where fans get to meet their stars and vice versa and where money
can be made from selling artworks and trading cryptocurrency. The FansTime operate on
the Ethereum blockchain technology. For now, the FansTime system is structured as follows:
Building Up the Global Decentralized Infrastructure
FansTime is dedicated to building up the Blockchain-based infrastructure for the global
entertainment industry and fan economy, including: Public figure information registration
system, copyright registration system, information distributed storage and
communication system and establishing the decentralized data storage, information
search, payment, and settlement as well as LBS service, community broadcast and
other community infrastructure.
With the FansTime smart contract system, nodes within the ecosystem can reach
consensus efficiently. Meanwhile, FansTime will extract the behavior data,
consumption data and positioning data from each node to outline an anonymous profile
for each user and formulate the statistical results which will be offered to the community
nodes via visual query interfaces and API technologies.
Payment data formed in the FansTime ecosystem will be settled automatically based on
the smart contract; meanwhile, the signature and cryptography systems based on the
public and private key technology, third-party security application, bio-information
identification and other security technologies are used to guarantee the payment security.
The FansTime ecosystem will be actively engaged in exploring the relevant interfaces
based on the geographic locations, bio-information input, and Internet of things (IoT)
chip applications to facilitate the demand matching and security traceability among
community nodes.
Within a decentralized ecosystem, the system itself will be an effective shield for
personal value against capital and authority. The task of value assessment will be fully
handed over to the market and end users. With the smart contract embedded with AI
system, nodes across the ecosystem can evaluate the content through algorithm and
reach objective and fair conclusions.
FansTime will be responsible for commercialization of resources and development of
infrastructure and, by connecting the resources of other communities, offer better
experience to FansTime community users with the Blockchain general infrastructure.
Cryptography-based Identification Mechanism to Reshape the Credit
System
Cryptography is the basic logic underlying the FansTime Blockchain system. Within the
FansTime ecosystem, each individual IP (e.g. a star) will have an exclusive private ID
key, which can be used to sign any information the individual IP has released. Meanwhile,
FansTime will maintain and publish the public key pool of the star. Any organization or
individual can verify the signature of the star with the public keys.
To simplify the information truthfulness verification procedures and curb the spread of
false information on the platform, FansTime will develop a series of user-friendly
information verification products, for example the online star signature verification
platform, and offer the relevant API to facilitate the re-development of the developers.
Smart Contract to Redefine the Value Distribution
Since there is natural physical distance among nodes and in time and spatial dimensions,
the information asymmetry is a universal and inevitable natural phenomenon. However,
in a conventional economic pattern, because of the absence of motivation mechanism
for the nodes, the intermediate nodes along the information transmission channels will
make profits by creating the information asymmetry.
With the smart contract on the FansTime Blockchain, it can open more possibilities for
value distribution and thus effectively resolve the agency exploitation problem in the fan
economy.
During the transmission process of individual IPs in the FansTime ecosystem, each
node is empowered with three types of values of product supply, product consumption
and product recommendation. Product supply and product recommendation nodes earn
Tokens directly in the transaction while product consumption nodes make payment with
Tokens for product experience. This is consistent with the value delivery in the traditional
transactions. The difference is, the nodes recommending the products can broadcast to
other nodes and gain promotion commission based on the agreement stipulated in the
smart contract once the rest of the nodes receive the information and complete the
consumption. Under the mechanism, the intermediate nodes along the information
transmission shall receive their due earnings as product recommenders. Therefore, their
motivation for creating the information asymmetry is ultimately removed.
Individual IPs of Stars as Token
Individual IPs at their start-up stage can accomplish the primitive accumulation of fans,
initial work presentation and value realization within the community. For stars with
several fans, private tokens can be issued based on the IP values and partially
subscribed by early fans, who can either sell the Tokens to other fans to profit from the
rising popularity and value of the star or exchange the Tokens for IP products of the star,
like a concert ticket, an exclusive lunch, a limited-edition hoodie.
As public figures, activities and reputation of stars can have a direct influence on their
values. Highly honored stars can deliver the IP values to specific commodities while
stars with distinctive personal styles can extend the IP values to some lifestyles. The
extension of these IP values can bring extended earnings to stars. The comprehensive
earnings themselves will also feed back to the values of Tokens. Stars, like listed
companies, can regulate the market through buyback, POS, or the increase in the
tradable shares
Part III. FansTime Implementation Logic
FansTime— A new ecosystem of the fan economy based on the Blockchain technology,
including the following four important components:
3.1 Individual IP Value System
Personal IP Value System is the starting point for the development of the ecosystem. A
pricing measure different from the legal tender will be set for the value of the individual IP,
which will then develop a series of value performance.
If currency no longer represents the amount of work per unit of time, then what can measure
the value of talent? FansTime believes that only fans can do.
Token shared by the community co-founders will become the only object to price an
Individual IP to solve the pricing, financing, derivative development and “assetization”.
Gradually, a decentralized multilateral market can be built then the value of Individual IP can
be cherished fairly. The value system co-founders can be closely engaged in the value
creation of individual IP and benefit from the process.
FansTime will introduce for the community the high-value individual IP and the demand side
of segments to improve the market environment and continuously expand the circulation
coverage of Token.
3.2 FansTime Chain
FansTime Chain is a new Blockchain system developed by FansTime Team based on the
Blockchain2.0 supporting multiple smart contracts. FansTime Chain is the underlying logic
of FansTime. When FansTime newly came online, the FansTime Chain took the form of
Consortium Blockchain to reduce the maintenance costs and improve the upgrading
efficiency. The FansTime Chain will open its bookkeeping to become a Public Blockchain
when the FansTime community is getting larger and the Blockchain technology more mature.
Small-scale high frequency trading widely exists in celebrity IP trading and celebrity-fan
interaction scenarios. The existing public-chain infrastructure features insufficient TPS and
excessive fees. On this account, FansTime will build its own underlying public chain system
to ensure providing 1,000-level TPS and keeping trading fees within reasonable range under
the premise of keeping high consistency.
Based on the characteristics of fan economy, feature modules in vertical domain will be built
in the FansTime Chain, such as one-button issuance of token simplifying the issuing of
personal token, one-button signature easy to protect the copyright of the works, piracy
identification, etc.
At the same time, the security functions using for protecting fans’ rights and interests will
also be built in FansTime Chain, such as mandatory token lock position, mandatory staging
release, etc. aiming at protecting the interests of the community from damage exerted by
small number of unscrupulous token issuers.
FansTime is plan to supply users with better experiences based on its blockchain universal
infrastructure by allotting more resources to fans’ community and cooperating with other
parallel communities.
Complying with the Blockchain 3.0 standard, FansTime Chain enables majority of
community developers to write Turing-complete smart contracts based on business
scenarios. By working together with Hong Kong University of Science and Technology, the
FansTime R&D team has developed the DPOS + POWmixed consensus mechanism, which
not only brings the superiority of DPOS in fast trading and saving resources into full play,
but also enables most nodes of community to involve in accounting so as to create a fair
and safe environment.
FansTime Chain has a total of 21 accounting nodes, most of which being selected by
campaigns conducted in community, with the rest being generated by node mining
competition. All nodes have their accounting in turn, generating one block every two seconds,
therefore each round of accounting needs 42 seconds. At the end of each round, new
combination of accounting nodes generated through voting and competition will begin with
next round of block issuance.
In addition, by introducing Byzantine fault-tolerance mechanism into DPOS of FansTime
Chain, confirmation time is further shorted.
With the WASM virtual machine built-in FansTime Chain, while enjoying the improvement
of the efficiency of smart contracts, most of developers can use mature languages such as
C + +, Java (TeaVM), etc. to compile smart contracts. For performance improvement effect,
please refer to the following figure.
While establishing personal IP value system, the public chain of FansTime Chain will be
synchronously released with the completion of infrastructure. The test on alpha version of
public-chain will be completed in September 2018, the test network, released in October
2018 and the major network, launched at the end of 2018 or the beginning of 2019.
3.3 FTI Token
FTI
FTI is an official encrypted digital currency in the FansTime ecosystem based on the launch
of FansTime Chain. FTI is the official token for any transaction conducted in the ecosystem
and the backbone economic system of the ecosystem. In the future, the FansTime
community will launch the community motivation system and all the participants in the
community will be given equal access to FTI. The FansTime Token depends totally on the
secure and fast Ethereum network. The FTI token is created to adopt all the privacy and
security principle and practice of the ERC20. The token is a virtual asset that bears value
based on the underlying properties, assets, stars success and associated rights and
privileges. Since it is an Ethereum based token, it depends on the Ethereum platform
enjoying numerous advantages like
3.3.1 Predictability and security rather than having to create anindependent
blockchain
3.3.2 Implementation by well-supported and robust client since
tokens from the Ethereum network can be managed by
Ethereum customers too
3.3.3 High liquidity rate as it is easy to exchange with other based
tokens including ether. It is also easier to get listed on popular
exchange platforms
The FTI token is a utilitarian token or native token of the FansTime blockchain and it may
not be used outside the platform.
With the FansTime Chain smart contract, Super Individual IP is entitled to issue the
Exclusive Token to set the exclusive IP value, establish the exclusive value system and
exchange for FTI in the FansTime system.
Legal Tender FTI Exclusive Token
Obtaining
Approaches
Issued by the
Central Banks
Digital Currency
ExchangeFansTime
Payment
Method
Banknotes/Digit
al Payment
Network Node
Broadcast
Network Node
Broadcast
LedgerNone/Centraliz
ed BanksBlockchain Blockchain
Circulatio
n Coverage
Within the
Specific CountryGlobal Circulation Global Circulation
Detailed Analysis of the Difference among the Legal Tenders of Different Countries,
FTI and Exclusive Token for Stars
To build up such a new value system, FansTime will develop a series of applications,
including but not limited to, Time Exchange, Fans Rights Mall, Exclusive Token Exchange,
etc. See Part IV for more details.
FTI is the native token of FansTime and will be used in the platform to enjoy all the benefits
of the platform.
With the FTI, you can do the following, though not limited to:
• Have access to your favorite Stars, their events and VIP events.
• Use FansTime Smart Contract Technology
• Copyright your data on the blockchain
• Sell your data on the blockchain
• And use the other features that FansTime will roll out as time goes on.
Assumed Scenario-to use Token for celebrity development support: In 2018, Artist A made
the debut in the industry and gained a small number of fans after starring in one idol show.
He can then choose to launch his autographed photos online at the Fans Rights Mall, live
broadcast programs, meet-up tickets, and other commodities, which can be purchased by
FTI owners.
In 2020, Artist A has been gaining a rising fame, an increasing number of fans and the
establishment of exclusive fans community of his/her own and the gradual formation of fans
culture, which makes diversified commercialization channels possible. Then, Artist A
decides to issue his time and commodity in FansTime, the FTI owners can exchange for
Artist A’s time from FansTime Time Exchange, interact with Artist A online and offline all the
way and therefore get even more passionate about Artist A. As a result, the time of Artist A
is becoming more valuable.
In 2022, Artist A grows into a star, whose fans community and fans culture are well-
established and protected by cognitive barriers, i.e. fans have independent cognition and
stable recognition of Artist A’s value. At this time, Artist A issued exclusive Token which the
FTI owners can subscribe. Because of Artist A’s rising popularity, the rising demand for
Token will bring handsome profits for Artist A and early holders (most probably fans).
FTI: Powering FansTime Blockchain
The FTI token is the power block of the FansTime blockchain as users need the token before
they can enjoy the numerous benefits of FansTime.
The token ensures that transactions are done very quickly because the blockchain does not
have to battle with lack of scalability. This was why FansTime has started the building of its
side chain where decentralized apps will be created, like the Time Exchange. The main
chain and the side chain will be linked together, meaning that transactions done on the side
chain that affects the main chain is sent to the main chain. We made this division because
we do not want our native token, the FTI, to have a slow transaction time of three per second.
Transactions can be done across borders.
• The token is secure: As a payment method, it has an underlying security
infrastructure that prevents it from being hacked. The token cannot bediverted.
• The token is reliable. This means that the token cannot malfunction, as well as the
FansTime blockchain. Every feature will run smoothly.
• It is intelligent. By using blockchain technology and AI, we have incorporated
conditions like the GDPR to ensure every data operated on the platform is safe.
You can use FansTime blockchain to copyright your work instead of expendinga
lot on getting copyrights in your authority. When another person illegally uploads
your work and tries to pass it off as his, the AI technology will alert your
3.4 Technical Architecture
Proof of Stake
FansTime has considered the high costs of users mining cryptocurrencies if our coin was
PoW. The effect it would have on the environment is great. That's why we opted for PoS
token. The PoS token means that our tokens cannot be mined; therefore there is no need
for mining hardware. PoW coins promote inequality, meaning that only those with the money
to pay for energy costs and complicated hardware can earn more tokens. Many block chains
can be compromised with the complicated mining hardware, which is we opted for PoS. To
earn more tokens, you would have to stake your tokens for a period without touching them.
This is to ensure that there is a relative scarcity of the token; hence the price of the token
will increase. The staking percentage will be released later. More so, operating with the proof
of stake consensus, the issue of scalability is solved as speed, energy consumption and
transaction issues are solved trying to reach a consensus as compare to what is faced in
the proof of work.
Lamport Signatures
FansTime has looked across the world of blockchain technology and noticed that the threat
of hacking through classical and quantum computers is increasing. In the nearest future,
quantum computers with the Shor Algorithm will be able to hack into a lot of block chains
and destroy them. Funds will easily be carted away, and many blockchain platforms will fail.
To protect ourselves, we are making use of the primitives’ cryptography like Lamport
signature scheme to protect our blockchain. With this signature scheme, quantum
computers or classical computers cannot have access to our blockchain or token.
Governance System
The FansTime is created solely for the users and to be run by the users. The decision to be
carried out is carried out by the users themselves. Whatsoever policy they want to adopt
as long as it is legal would be granted. Our role in the governance process is just to put you
through the right decision i.e. serving as a guide in all of the processes and also to implement
the decisions you arrive at. A decision is made through an electioneering process where
users get to vote for the best choice. The majority carries the vote in all cases. Since it is
smart contract supported, a contract is to be opened with the necessary information and
terms of agreement and that is where all voting would take place. Any violation against the
terms of agreement would be counted null and void. Automatically, the decision made would
be implemented as programmed in the contract.
3.5 Global Content Distribution System & Copyright
Identification System
Global Entertainment Content Distribution System
The entertainment contents produced by diversified IPs are the major carrier of the fan
economy. The transmission channels and speed of these contents are quite inefficient due
to the influence of the existing internet and content distribution structures. For example, in
the current network environment, a server carrying the content of a specific IP suddenly
crashed or the content was maliciously deleted by some individuals or organizations for
commercial intentions, as a result the content would be unavailable. These problems can
be inevitable under the context of centralized servers. Meanwhile, the centralized server
structure results in extremely high content transmission costs (server costs, bandwidth costs,
etc.), the content distribution rights are controlled by a few people or organizations and may
cause the quality contents unable to be distributed effectively.
With the FansTime blockchain technology and distributed file system, we can effectively
address the content server centralization issue. The distributed technology can provide
effective guarantee to the content security and availability when slicing the content and
synchronizing the file slices to the neighboring servers in the network. Meanwhile, the
FansTime distributed technology will conduct the Hash Index to the file slices and record
the Hash codes in the blockchain to ensure the consistency of the file slices with the source
file. The records will be unalterable and forever saved in the network. Under the distributed
infrastructure, the content transmission can support the entertainment information
transmission without the restrictions of server and bandwidth. In the FansTime ecosystem,
the content transmission will be fair, secure and highly efficient, enhancing greatly the
content distribution and transmission speed and breadth.
Based on this system, we will also develop the distribution applications geared towards the
digital contents of weak copyright.
The digital contents of weak copyright refer to the contents inadequate for the copyright
trading and completed at a relatively low production time cost. For example, live shows,
song demos, dance clips, greeting audios, portraiture, personal schedule, blog journals, etc.
For subjects with comparatively low individual IP values (e.g. internet celebrities, bloggers,
talent show players, new artists, etc.), their limited professional expertise and connections
will prevent them from producing works “sufficient for copyright trading”, which will lead to
the restrictions in the appreciation speed of individual IP values and postponement in the
cash-in of individual IP values. “Digital content distribution of weak copyright” has been
developed to resolve the problem. Firstly, the production costs and professional expertise
requirement of weak copyright digital content are lower and individuals can well complete
the whole production. Secondly, the pricing rights and usufruct are in the hands of individual
IP owners, free from the intervention of any agencies or adverse market factors. Finally, the
application will meet the demands for the simultaneous enforcement of multi-sided relay
transactions, multi-sided transaction traceability and multi-level reward feedback
mechanism.
The Underlying Logic of Weak Digital Copyright Distribution System
Global Content Copyright Verification System
The FansTime blockchain technology and distributed system can provide important support
to copyright protection. Under the current network environment, the centralized and
revisable data in the traditional servers make it quite difficult to prove copyright infringement
(for instance the infringer can tamper with the publishing time of the infringing content to
falsely prove it is an earlier content than the original). While in the FansTime ecosystem, the
publishing time and content will be recorded in the blockchain forever. The write-in time of
the copycats of the original contents to the blockchain will be definitely later than that of the
original writer. In case of infringement, the originator can offer proper evidence, the rights
and interests of the content originator or the copyright owner are thus protected.
3.6 International Crowdfunding Platform for Individual IP
The traditional crowd funding platforms are often confronted with trust issues. These
platforms require a lot of capital to be put in for artificial verification costs to ensure and
monitor the fundraisers to distribute the due profits to participants strictly based on the
agreement reached before the crowd funding.
Compared with the traditional crowdfunding platforms, the new platform will operate
independently without manufactured interferences, thanks to the Smart Contracts and
Decentralized and Distributed Databases. Therefore, “code is equal to law” would be truly
realized at least in the process of profits allocation between investors. And the concerns that
the fundraisers or the platform will unlawfully profit from the projects can be ignored.
FansTime will also provide an international crowdfunding platform for FTI and Exclusive
Token holders in addition to continuously connecting the terminal consumption scenarios to
the Ecosystem based on the basic Blockchain technology. Individual IP can initiate the
project crowd funding highly relevant to the IP on the platform. Other users in the community
can participate in the crowd funding with their FTI or exclusive Token. The profit distribution
shall be conducted automatically in accordance with the smart contract stipulation without
the intervention of any agents. Investors can not only benefit from the appreciation of FTI
and exclusive Token, but also from the investment project profits.
Assumed Scenario: B is a talented independent producer and he initiated a crowd funding
for a film program in FansTime. Users got to know from webpages that B was a film
practitioner who graduated from professional schools and B had created feature films for
lots of famous companies and had good understandings of the market and camera language
and worked with a young elite team. So, the users joined the crowd funding events and got
the ultimate profits based on the smart contract.
3.7 Global Membership Rewards System of Individual IP
In the past, the individual IP could theoretically establish the global Fans Club (membership
based). However, they are faced with the following headaches for a long time:
In a real sense, the membership system has not become globally unique. Membership data
of different countries can be stored in different databases independent of each other. The
resulting geographical and price discrimination have been existing for a long time. The sense
of belonging and value identity the individual IP supporters are seeking have been
weakened seriously. In the long run, this approach will go against reducing the fans
management costs because “equal treatment” will be a constant consideration.
High costs in verifying the membership identity information. Particularly in the offline
scenarios, the IP operator or event sponsoring organizations need to verify the membership
identity to ensure those admitted harmless. Traditionally, the resident ID or passports are
used for verification. However, such an approach will encounter a series of difficulties when
applied in the transnational operation.
Member consumption record can be easily fabricated.
The membership system is weak in its business development potential. The individual IP is
unique in its diversified cash-in approaches for business cooperation and fans constitute the
mainstream consumers. The traditional centralized membership database is weak in
business development and unable to provide reliable membership consumption information.
Therefore, the membership classification, maintenance and marketing cannot be
implemented at a high level.
To address the problems, FansTime will develop a set of global membership token system
based on the blockchain technology to focus on solving the membership identity verification,
protection of consumption records and transnational transactions.
ID authentication
The identity verification shall be implemented mainly with asymmetric key encryption
algorithm, which includes two encryption keys known as the public key and private key. The
data encrypted with the public key shall be decrypted with corresponding private key and
vice versa. Users can encrypt their identity information with their private keys and broadcast
encrypted info and public keys, then other users can decrypt with their public keys. If the
decryption is successful, then the identity verification will go through. In this way, the user’s
account will be protected from being falsely claimed by someone else.
Hard to tamper with the consumption records
Distributed database for data storage, data block, digital signature (asymmetric key
encryption algorithm) and time stamp will be used to realize the function of protecting the
consumption records from being altered or tampered with the consumption records will be
stored in a data block. A data block generally comprises a block header and a block body.
The block header contains the former block’s address, time stamp, random number and the
current block’s Target Hash Value while the block body contains the transaction details. The
data blocks are then stored in a distributed database.
The time stamp is used to record the time the current block data has been entered, and the
time stamp on all the following blocks will serve as evidence for the added workload for all
the previous time stamps. This will formulate a chain which the time is in ascending order.
The time stamp can be used as an important parameter to prove its existence, which can
prove the specific information must have existed at a specific moment.
The digital signature can protect the consumption records from being forged. This can be
accomplished with identity verification (See above for more details).
The distributed database is a decentralized system structure, i.e. the whole network is not
subject to a single centralized hardware or administration and each participating node has
equal rights and obligations. In addition, any participating node can have a full database
copy. Unless more than half of the system algorithms are under control, any revision to the
database from nodes will be invalid.
Transnational Transaction
Unified trading currency (FTI and Exclusive Token) offers transnational transaction solutions.
Different individual IPs will build up their own value systems with Exclusive Token and fans
across the world will use one unified digital currency to purchase the relevant commodities
and services of this individual IP, unbounded by their nationalities or geographic locations.
FansTime: Incorporating the Tenets of General Data Protection Regulation
(GDPR).
The GDPR is a regulation created to protect users' privacy by the EU. It works for those
living in the EU or EEA- European Economic Area. Though FansTime will not solely operate
in the EU, it has decided into integrate the tenets of GDPR into the blockchain. FansTime
will give control of the data to the owners, and we will ensure data theft or violation of data
privacy does not occur on the blockchain.
Individuals have the right to reveal or withhold or reveal their personal data. The individual
can get paid for the data, while deciding how long his or her data are displayed.
We are unlike, Facebook and other social networks, which fleece their users' data, sell to
third parties, and not reward their users.
3.8 Diversified Participants in the FansTime Ecosystem
Construction
In the FansTime ecosystem, diversified participants in the fan economy will have free,
convenient, and fair access to the construction and utilization of the ecosystem. These
participants include: IP providers, content platforms, manufacturers, copyright owners and
so on within the ecosystem, the FansTime participants can enjoy the premium fan resources
dividends and convenient blockchain and FTI transaction system. Meanwhile, with
diversified smart contracts, they can build up the highly efficient transaction mechanism to
enhance the work efficiency.
Diversified Participants in the FansTime Ecosystem Construction
Part IV. Interpretation of Individual IP Value
System Application
4.1 Application: Time Exchange
The increasing number of community users and rising user participation drive a surge on
demand for more and diversified individual IPs. The community will inevitably launch a more
widely applied standard equivalent to individual IP—Time. Compared with the higher
verification and issuance costs of the Exclusive Token, Time provides more flexible
capitalization approaches and can quickly attract the potential individual IP to participate.
Diagram of FansTime Time Exchange
Time Exchange and Token Exchange will work together to enrich the value system of the
overall ecosystem and meet the demands of individual IP provider, demand side and
investors of different types and at different development stages.
4.2 Application: Fans Rights Mall
Fans Rights Mall is one of the terminal consumption applications in the FansTime ecosystem.
With the development of communities, there will be an increasing number of FansTime
terminal consumption scenarios. Fans Rights Mall is where all FansTime users exchange
FTI, Exclusive Token or Time for commodities or services. Commodities include the
traditional copyright commodities, offline events commodities, digital contents of weak
copyright and diversified IP commodities. They are priced with such pricing measures as
FTI, Exclusive Token or Time depending on the specific individual IP’s choices.
Traditional copyrighted goods like music, television production and films, portraiture, etc.;
offline programs like concert tickets, access to meet-up events or lunch with idols, etc.; digital
content of weak copyright like voice chat, live shows, blog, and journals, etc.; diversified IP-
related products like star-related souvenirs, IP derivatives, IP & brand name crossovers, etc.
4.3 Application: Exclusive Token Exchange
Diagram of FansTime Exclusive Token Exchange
Under the FansTime Exclusive Token Exchange system, famous stars can issue their own
Exclusive Token for the subscription by their fans or other community users who recognize
the value of the stars. Exclusive Token holders can conduct transactions through the
FansTime Exclusive Token Exchange or exchange the Exclusive Token of the star for
corresponding fan rights and interests.
Part V. FansTime Implementation Roadmap
The long-term development of FansTime will move ahead along two main routes, one is
infrastructure and the other is the application scenario. With the maturing blockchain
technology and evolving lower layer protocol, we will continuously improve the basic
services for the overall operations of the communities; besides, we will consistently explore
the industrial resources to apply the community contract spirit to more scenarios and update
any implemented changes on the FansTime official website on a timely basis. Please follow
http://fanstime.org for more details. Here we will only give descriptions of the key time
arrangement of strategic importance:
5.1 Establishment of Individual IP Value System and Improvementof
FansTime Infrastructure
Time Exchange
Time milestone: March 2018 - June 2019
FansTime founding team is quite experienced in the research and development of traditional
Internet platforms, transaction system and blockchain. And Time Exchange will be launched
firstly. Time Exchange will provide a more convenient transaction channel for a larger
number of individual IP owners. Meanwhile, through further improving the infrastructure, the
founding team provides more basic interfaces and functions (such as payment and
settlement) to facilitate the interaction between stars and fans.
Fans Rights Mall
Time milestone: June 2019 - December 2019
With the continuous expansion of user scale and further upgrading of cooperation scope,
increasingly individual IP owners will constantly make a request for IP valuation. The
community will sort out the characteristics of these demands for more flexible value
realization channels & product forms, and convenient ways of integration of industry chain.
At this stage, Fans Rights Mall will be launched, and the fragmented IP right products can
be sold directly to fans. Regarding the infrastructure, the OTO docking efficiency of fans
rights is further improved, which can provide more localization options.
Improvement of FansTime Infrastructure
Time milestone: December 2020
During the stage of establishment of Individual IP Value System, the principal chain of
FansTime is released. The test of principal chain Alpha version was finished in June,2019.
It will release on a test network in January,2020 and formally launch in the end of 2020.
FansTime users are mapped from the ERC20 to the principal chain of FansTime based on
the upgraded Smart Contract and will be gradually launched to the community incentive
system.
Exclusive Token Exchange
Time milestone: December 2019 - December 2021
Based on business practice demands, it will define the Token issuing and transaction
process & system of super IP and allow the exchange of related rights regarding the
cooperation demand of super IP and usage requirement of fans users in the community.
During this stage, super IP can issue Exclusive Token to fans for subscription, and such fans
can hold the added values of issued Token or exchange specific star IP products with
foresaid Token. With the development of blockchain technology, it will integrate more
industry chain resources and common technical interfaces, to lay the foundation for common
facilities such as identity authentication and data investigation.
Multiple Terminal Consumption Application Access Based on Blockchain (Going
on from December, 2021)
With the evolving ecosystem, FansTime will develop more blockchain-based applications
for different scenarios. Meanwhile, FansTime will actively cooperate with third-party
platforms or organizations and open SDK and relevant interfaces to plug in more excellent
applications.
5.2 Global Entertainment Content Distribution and Copyright
Verification System
Establishment of the Global Entertainment Content Distribution System Technology and
Relevant Applications (Time Milestone: December 2019—December 2021)
The Global Entertainment Content Copyright Verification System (Time Milestone:Going
on from December, 2021)
5.3 Establishment of the Global Individual IP Crowd Funding Platform
Establishment of the FansTime Individual IP Crowd Funding Platform Technology (Time
Milestone: June 2020—December 2020)
Blockchain-based IP Crowd Funding Application Access and Operation (Time Milestone:
December 2020—December 2021)
5.4 Establishment of Individual IP Global Membership TokenSystem
Establishment of Individual IP Global Membership Token System Technology (Time
Milestone: December 2020—June 2021)
Gradual Launch of Relevant Applications Based on Different Industries (Time Milestone:
June 2021—December 2021)
5.5 Evolvement of the Autonomous Ecosystem
Time Milestone: Going on from December 2021
The Foundation will improve the long-term and autonomous motivational measures when
the overall ecological infrastructure is basically established.
At this stage, individual IPs in the industrial chain have taken roots in FansTime, the
community infrastructure has been making positive and stable progress and automation has
been realized in the application access, self-circulation has taken shape among the
circulation, recycling, and distribution of the Token mechanism in the system, value and
information transfer are highly smooth and efficient. The team would gradually put down
development and operation roles and return to FansTime system as community participants
to promote the autonomous evolvement just the same like other participants.
In terms of technology, there are established routines in the improvement and upgrading of
the basic smart contract, well-developed registration, authorization and tracking system of
individual IP and accessible transaction, verification, and consumption channels of fans.
The whole ecosystem enters a stage of autonomous evolvement.
Part VI. FansTime Governance Structure
6.1 FansTime Foundation Profile
The FansTime founding team takes “decentralization” as its goal and keeps marching ahead
toward the common ideal by promoting the continuous upgrading and autonomy of the
ecological communities. Since the establishment of FansTime program, it has been clarified
the program shall become by no means a tool of seeking profits for a few organizations or
individuals.
For the convenience of community users and social supervision, FansTime team will
establish FansTime Foundation in Singapore. The non-profit foundation takes as its mission
to run the FansTime integrated ecosystem in a fair, objective, and transparent manner and
offers support to various tasks of the ecosystem
FansTime Foundation is based in Singapore and subject to stipulations of laws and
regulations in Singapore. The Foundation will be independently managed and run by a
trustee Board of Directors or Management Committee which consists of qualified trustees.
Meanwhile, the operation of the Committee will be independent of the local government
authorities in Singapore.
Singapore is known for its internationalization. It has a very strict and well-established legal
system with one of the lowest crime rates in the world. Meanwhile, as the world’s busiest
trade center, Singapore boasts world-leading financial environment and financial order. As
a non-profit organization, FansTime Foundation is not entitled to participate in any events
concerning commercial interests in accordance with laws in Singapore. The “profits” gained
by the Foundation shall be retained as surpluses and used in organizing other events and
will not be distributed to the Foundation members or other for-profit organizations.
6.2 FansTime Foundation Governance Structure
To make a reasonable use of resources and capital of the FansTime Foundation,
continuously promote the rapid development of FansTime Ecosystem and expand the
application coverage and community dimensions of FansTime ecosystem in a fair, objective,
and transparent manner, the organizational structure of the Foundation is shown as follows:
D-STAFF(Decision-making Staff)
D-STAFF is simply the decision-making committee as the supreme decision-making body of
the FansTime Foundation and is responsible for the final decision-making regarding
Foundation affairs. The decision-making committee is made up of an odd number of natural
persons, with the same right to make decisions. The committee is mainly responsible for the
formulation and review of major matters of the foundation, such as strategic planning and
financial budget.
Chairman of the Foundation CEO)
The CEO of the foundation is elected by D-STAFF and is responsible for it. The CEO's main
responsibility is to gradually implement the resolutions and regulations designated by the
decision-making committee within the specified time and to report to them on a regular basis.
The CEO is also responsible for establishing the necessary functional departments and
employing the core staff of relevant departments to coordinate the core business of each
business line and to make the foundation work properly and efficiently.
Honorary Chairman
The FansTime Foundation regularly selects an honorary chairperson to reward its
outstanding contributions to the FansTime community. Honorary chairperson will be
responsible for further promoting the FansTime community and ecosystem, to enhance its
overall popularity and influence. The honorary chairperson, decided by D-STAFF and CEO,
will report directly to the CEO.
Research and Development Department
The R&D department is responsible for the research and development of the FansTime
ecosystem, from the underlying technology to the upper layer application. In daily work, the
R&D Department needs to maintain good communication with the Product and Design
Department, Operation Department, and other departments to ensure the rapid response of
requirements. At the same time, to ensure the technology advancement of the FansTime
community, the members of R&D Department need to continuously absorb the latest
innovative technologies.
Product and Design Department
The Product and Design Department is mainly responsible for the maintenance and
promotion of the product content and presentation form in the FansTime ecosystem. At the
same time, with the Technical Department, the Product and Design Department is to
establish a sustainable development strategy for the ecosystem. The daily work of Product
and Design Department includes conducting market research, coordinating product
functions, and undertaking UI design, graphic design, and other work in FansTime
ecosystem.
Ecological Operation Department
The Ecological Operation Department will be responsible for the planning, organization,
implementation, and monitoring of all the ongoing issues in the FansTime ecosystem. The
top priority of the Ecological Operation Department is to actively develop more outside
partners and closely integrate the FansTime ecosystem, the ecosystem members with the
outside partners to build a open, distributed and global ecological chain of quality experience;
Besides, the Ecological Operation Department will be responsible for the construction of the
ecosystem within the community and formulate an autonomous system of positive
interaction, free information circulation and full information symmetry within the FansTime
Community. The Ecological Operation Department members shall at any time pay attention
to the updates, hot topics, and feedback within the community, have active communication
with encrypted digital virtual currency holders and organize irregular technological
communication meetings and other events.
Marketing Department
The Marketing Department shall be responsible for continuously conveying the ideas and
achievements of FansTime ecosystem to the public with multiple marketing approaches to
improve the influence of FansTime ecosystem and expand the FansTime community scale.
In specific practices, the promotional tasks the Marketing Department shall conduct include
but not limited to: Maintain the public relations and media relations and promote the ideas
through diversified public or media channels; Produce and launch advertising campaigns;
Design interactive events. Meanwhile, the Marketing Department will work closely with the
Ecological Operation Department and make the optimum promotional and marketing plans
based on the requirements of partners and terminal users.
Finance Department
The Finance Department will be responsible for the management and monitoring of the
financial affairs of the FansTime Foundation, including fund management, accounting, and
cost accounting and auditing. The digital assets projects are highly risky, the Finance
Department will be responsible for risk management and control and will work with other
departments to conduct analysis and evaluation over project operation and financial risks.
In terms of auditing, the traditional system will be unable to have effective supervision over
digital assets considering their special traits. FansTime Foundation will hire auditors with
professional experience to ensure a stable FansTime accounting system as well as open
and transparent FTI application.
Part VII Establishment and Maintenance of FansTime
Community
7.1 Establishment of Community
FansTime communities were established by FansTime founding team and the Foundation
and targeted invitations had been sent at early stage to elites sharing the FansTime ideals.
The participating members, together with FansTime Foundation, will work hard for the
construction of FansTime ecosystem and communities.
FansTime Foundation, as the initiator of FansTime ecosystem, shall have no access, other
than the initial public offering, to acquiring the corresponding encrypted digital virtual
currency or other interests. FansTime Foundation members will work with community users
to contribute to the ecosystem construction, provide quality information and obtain fair
rewards.
7.2 Community Construction and Expansion
The FansTime Foundation and its elite members will be responsible for the infrastructure
construction and maintenance in the FansTime Community, including:
Technical System: The FansTime Foundation is committed to making public the FansTime
source codes on its official website (http://fanstime.org) and GITHUB for community
members to visit, learn, supervise, and improve after the establishment of the FansTime
Community.
Scenarios: The FansTime Foundation and its elite members will continuously improve the
ecological quality of FansTime and step up its application in more scenarios.
Operation System: The FansTime Foundation promises to the communities that an
organization specialized in the ecological operation will be set up to take charge of FansTime
ecosystem maintenance and improvement.
The gradually improving FansTime communities and their upgraded ecological influence will
attract more members sharing values and ideals with FansTime. Those members can be
producers or consumers of quality experience or both. With an increasing number of
community members and orderly autonomous rules of the FansTime ecological system, the
communities will enjoy accelerated development and the community members are more
likely to win the motivation rewards.
7.3 Community Maintenance
Community Voting Mechanism
The participation of community members is very important in the improvement and
upgrading of the blockchain system. FansTime ecosystem takes the community voting
mechanism, which will act as an efficient and fair channel to hear opinions of the community
members and reach the agreement to drive the self-upgrading of ecological logic.
To improve the voting efficiency and engage more community members in voting in spite of
their geological locations, FansTime ecosystem has developed specialized scripting
language algorithm based on the blockchain and smart contract and establish the dynamic
voting procedures through smart contract broadcast; Dimensionality reduction has been
placed in the algorithm over voting rights of accounts to improve the number of members
across the community and impose restrictions on malicious moves to gain private interests
by holding a large amount of resources. Meanwhile, the algorithm will also restrain the voting
rights of FansTime Foundation to better implement democracy.
technological research and development
business cooperation
Foundation reserved
community construction
marketing
team building
20%20%
15%20%
10%15%
Part VIII. Issuance and Allocation of FTI
8.1 Circulation and Exchange Planning
10 billion FTI will be issued for exchange, the details are shown as below:
⚫ 10% for community construction, to be used on community infrastructure
construction at the early stage of FansTime
⚫ 20% for technological research and development, to be used on FansTime
product design and R&D
⚫ 20% for marketing, to be used on FansTime marketing and expansion
⚫ 20% for business cooperation, to be used in construction of ecological
business facilities and business cooperation in relevant projects
⚫ 15% for team building, to be used on the payment of operating costs and
contribution returns of the FansTime founding team and management team. It is
locked for three years and releases 2.5% every six months.
⚫ 15% for the Foundation, to be managed by the Foundation and used on
FansTime Foundation establishment and relevant events such as community
awards, liquidity support, compliance support.
Circulation in the early stage: 4 billion FTI, mainly used in the initial community construction,
marketing, business cooperation, the first-stage R & D cost and the motivation of the
founding team;
Long-term released: 6 billion FTI, mainly used for long-term technical development, team
building, foundation management, marketing, community construction and business
cooperation.
8.2 Exchange Modes Available
On Feb. 8th, 2018 Singapore time, initial recruiting will be launched and completed in 48
hours.
On Mar. 5th, 2018 Singapore time, initial private placement towards institutions and complete
within a designated period of 48 hours. Exchange will be completed in April. And FTI will be
issued in the mainstream exchanges in May.
Acceptable encrypted digital currency for FTI exchange: ETH/BTC/HT/EOS.
8.3 Special Statement
We will obey and resolutely advocate the laws and regulations in different countries and
we are now seeking investments across the world. (Chinese and American citizens are
now allowed to join. Any consequence or legal liability in case of violation shall be
independently undertaken by the violator and FansTime shall not be held liable.)
Part IX. Management Team
Her Highness Princess Apinya Pramoj, Honorary President of the Foundation
Thailand Princess, daughter of Prince Supab Pramoj, granddaughter of former Thailand
Prime Minister Mom Rajawongse KukritvPramoj. In his tenure as Prime Minister, Kukrit
Pramoj established the diplomatic ties between Thailand and China and had meetings with
Mao Zedong, Zhou Enlai, Deng Xiaoping, and other Chinese leaders. Kukrit Pramoj
advocated democracy and friendly coexistence with countries of different political institutions.
The Pramojs, as goodwill envoys to neighboring countries, have been actively engaged in
economic, cultural and entertainment communities in many countries.
Weilian Chen, CEO of the FoundationHe, an American, winner of master degree from California State University, the United States,
is a researcher specializing in artificial intelligence (Neural Network). He used to serve at a
listed semiconductor company locate in Silicon Valley, and later started his business
engaging in creation of new hardware and commercial application projects at Mainland China
and Taiwan region. In recent ten years, his business was focused on the Association of
Southeast Asian Nations, mainly engaging in expansion of global blockchain technology
businesses, establishing personal and enterprise credit system, linking with online banks,
expanding application of blockchain, quickening the development of financial industry. As a
senior engineer in blockchain sector, he acted as the director of technique team, working on
AI, senior algorithm research, etc., accumulating rich experience in high-tech field of
blockchain.
Tetsuya Shin, in charge of R&D Department
Japanese citizen, MSc in Applied Physics from School of Engineering, Tohoku University,
blockchain expert, used to work for Hitachi High-Technologies Corporation in Japan and US,
responsible for BPM and software development, years of experience in product R&D and
project management.
Terry Wu, in charge of Finance Department
Australian citizen, Master of Accounting and Finance from University of Adelaide, used to
work for Travelex, a specialized foreign exchange institution and Westpac, a sophisticated
professional and management experience in risk control and loan review.
Part X. Consulting Team
JinHynk, Professional Consultant
Chief Director of SBS, a ROK citizen who put Lee Min Ho, Lee Jong Suk and other Korean
lookers on map and used to serve as Director in Legend Of The Blue Sea, The Master's
Sun, City Hunter, Brilliant Legacy and other hit series, his record in television audience rating
at 47.1% has not been broken in ROK. He is popular in ROK, China, Japan, other Southeast
Asian countries, US, and other countries and has won unanimous applause from audience
and professional critics.
Huang Lianjin, Technology Consultant
Well-known blockchain expert, member of ACM Practitioner Board, Expert Member of
Chinese Institute of Electronics, MBA.
Former Vice President of technology in Huawei, Chief Scientist in blockchain, Senior Expert
of Huawei and Chief ID authentication management architect. Used to work for CGI Canada
as head of CGI Blockchain Lab, CGI security technology director, CGI cloud security director
and chief security architect and established the CGI Federal Management and
Cybersecurity Capability Center. He used to offer consulting service in finance, blockchain
and security for US Federal Government, financial institutions, and public service operations
when he worked for CGI.
Part XI. Strategic Partners & Investors
China Equity Group
With a globalization strategy, China Equity Group (CEG) focuses on investment in High-tech
and Culture Entertainment industries. CEG was co-founded by Wang Chaoyong, returned
American investment banker and Chief Representative of Morgan Stanley Beijing Office,
together with Swiss investors. Mr. Wang is hailed as Investment Godfather and he is one of
the first overseas Chinese students working in the Wall Street investment and financing
community.
Qianhai M&A Funds
Qianhai M&A Funds, with the powerful support of Qianhai Equity Exchange shareholders,
specializes in 7 sectors of high-tech investments, including culture and education, internet,
IT, industrial automation, healthcare, environmental protection, national defense conversion
to civil use.
MINIPO Equity Investment (Previously Known As 36 Kr Equity Investment)
Leading domestic non-public online equity investment platform. 36 Kr is a mainstream,
prestigious and influential new business media and its parent company is now the largest
service platform for the ‘Entrepreneurship and Innovation Initiatives’ in China.
iFensi
iFensi is the most professional fans operation and service platform, ranking top on Alexa
Chinese entertainment website. It secured RMB 150 million in B- Round Financing in 2017
and was valued at RMB 1 billion, a record high in fan economy financing.
Engaged in the entertainment industry for more than a decade, iFensi has established great
relationship and strategic partnership with lots of well-known entertainment and finance
companies, including S.M. and YS of ROK, EE-Media, Emperor Entertainment Group,
BGTalent, Juli Entertainment Media, Star48 Cultural Media Group, Phil Chang’s Workshop,
Huayi Music Workshop, Steve Chou’s Workshop, Dao Cao Production, etc.
As the strategic partner of FansTime, iFensi provided with numerous entertainment
resources, and is dedicated to construct a new ecosystem of fans economy based on
blockchain technology.
United Cultural Works Exchanges
United Cultural Works Exchanges is the largest and most influential film and television
derivative exchange platform and the only government-approved cultural art works equity
exchange platform in Liaoning Province, China. United CulturalWorks Exchanges has
worked with Chunqiu Time, H&R Century Pictures, Alibaba Pictures, Huayi Brothers Media
Group and other top IP creators to publish over 50 pieces of derivative works, business
turnover exceeding RMB 50 billion in 2016.
NEXT
Chen Shu, the founding initiator of NEXT, is the initiator of Wenzhou Financial Management
Association and co-founder of W Youth Capital. NEXT has now accomplished its initial
operations in blockchain-related fields, concerning TMT, cloud computing, big data, AI,
financial technology, etc.
Node Capital
A venture capital firm dedicated in blockchain and one of the earliest professional investment
companies laying hands on blockchain. Node capital is to connect nodes existing in
blockchain ecosystem and integrate sector resources through investment projects and
cooperation, thus construct eco-system of the industry and carry forward steady and healthy
development of blockchain.
Xiang Chain Fund of Funds (XCF)
Xiang Chain Fund of Funds (XCF), the first Fund of Funds (FOF) of blockchain industry in
Hunan province, was jointly established by Cheng Guihua, a founding member of the China
Young Angel Investor Leader Association and Wang Xiaoye, an executive director of the
China Young Angel Investor Leader Association. XCF has invested many projects including
the following: EGCC, Extrade, Rcash, etc. It maintains a highly cooperative relationship with
well-known blockchain investment institutions, and has a high degree of integration of the
head resources of the entire blockchain industry. At the same time, XCF provides high-
quality blockchain industry projects with consulting services of one-stop investment and
financing, helping accelerate the development of excellent projects in blockchain
infrastructure and commercial applications.
Yinxin Capital
A frontier investor in blockchain technology co-founded by the core team of Waltonchain
and business circles and pevcnews, committed to offering support to teams with industrial
expertise and connections as well as understandings and visions on blockchain.
Huoxun Capital
Ainvestment arm under huoxun.com, was established by several top blockchain experts.
Tsing Capital
Tsing Capital, specializing in risk investment in block chain industry, is a professional
investment institution, the earliest one established in the world for linking and hatching young
leaders' new technology projects.
DFUND
DFUND was founded by Zhao Dong, a well-known person in digital currency field, in July
2017, specializing in the investment in the field, and supplying the invested project with end-
to-end investment bank services. It sticks to the principle of value investment, which is
judged and screened by professional team. It has impressive earnings in its early open-
ended fund. Till January 2018, the net earnings of Bitcoin in the first phase project of DFUND
is 620%, or 2543% in U.S. currency. Themajor investment projects are TNB、QASH、aelf、
Cybermiles、LLT、MobileCoin、Beechat, etc.
Genesis
Genesis, a blockchain-oriented professional investment bank and venture capital institution,
was found by Zhu Huaiyang and Sun Zeyu in 2017, engaging in finding the top quality
blockchain projects and providing long-term comprehensive assistance. The major
investment projects are Deep Brain Chain(DBC)、IOS、AELF、JEX、Game.com、ProChain、
Acute Angle Cloud, etc.
Link Capital
Link Capital, founded by Lin Jiapeng, a senior investment expert in blockchain field, is an
investment institution specializing in the sectors of blockchain project, digital currency and
network finance, used to invest in lots of quality blockchain projects home and abroad. It has
established offices in Singapore, Canada, and China’s Hong Kong and Shenzhen.
HS Capital
HS Capital has sharp acumen in blockchain industry, unique insight and control over
projects, and energizes invested project with community energy.
Ju Capital
Ju Capital under the Jubi Group, is a venture capital company concentrating on blockchain
industry, as well as one of the professional investment institutions early involving in
blockchain industry. Ju Capital is aimed at bringing most potential blockchain projects to
frontier markets through project investment and cooperation. Over years, Ju Capital has
been implementing influential blockchain projects worldwide by supplying end-to-end
professional team services, sticking to the principles of dedicating and professional
investments, and upholding the concepts of vale investment and deep guidance.
Stars Capital
Stars Capital, founded by Mr. Liu Jingchao in 2017, is a venture capital company specializing
in blockchain industry, and one of the profession investment institutions early involving in
the blockchain industrial ecosystem in the global context. It sets its purpose on integrating
industrial resources, building industrial ecological circle, and fueling the healthy and stable
development of blockchain industry through the way of project investment and cooperation.
Mr. Liu Jingchao is also the founder of Bijiu.com and Binvestment, as well as an
accomplished expert in blockchain industry.
Trueway Capital
Trueway Capital is a professional investment institution focusing on the blockchain sector,
engaging in building ecological layout in the fields of mineral pool, transaction platform,
technical media, technology application, etc. It is now devoting itself to the technology
innovation and development of blockchain by investing in and incubating excellent venture
teams in blockchain sector.Investment cases:CyberMiles(CMT)、JEX、Coindom(CCC)、
OneRoo(t RNT)、GIFTO、Zipper OS、TopChain(TOPC)、Game.com(GTC)、RenRen、
Nebulas(NAS)、BAIC、TrueChain、QUNQUN、WaykiChain、HotChain(HOTC)、TokenClub、
All Sport(SOC)、ARMADA MINER(AMUT)
Lemi Capital
Lemi Capital is a venture capital company focusing on the investment in global blockchain
sector in its early and growing stages, and is one of the earliest professional investment
institutions making layout for creating blockchain industrial ecosystem worldwide. Lemi
Capital’s target lies in, by means of project investment and cooperation, fueling rapid rising
of new technology and high-value projects, linking the nodes on blockchain industrial
ecosystem, integrating industrial recourses, building industrial ecosystem so as to better
release the potentials of blockchain technology in its coming development and application,
and promoting the healthy and steady development of blockchain industry.
Gama Capital
Gama Capital is a type of blockchain industrial fund established at the beginning 2018. Its
capital investment portfolio covers all developing stages of blockchain industry, vertical
industries, regions and commercial modes, including tracks such as basic chain, Internetof
things, supply chain, cross-border remittance, traceability, enterprise level application, etc.
Our concept is to realize linking in the global blockchain ecosphere by laying out the
blockchain enterprises worldwide. Gama Capital has established a most professional
globalized investment team in the industry, which is composed of lots of investment
managers and industrial analysts equipped with long-term experiences working at large-
scale international investment management institutions. The blockchain projects invested
by the partners of Gama Capital are PNT, Quantum, VeChain, ABT, EOS, FSN, etc.,
achieving dozens of times of return on investment on the whole.
Trichain Capital
Trichain Capital is a comprehensive and professional venture capital focus on blockchain
industry and digital asset investment banking. Trichain Capital is driven by capital, industry
and technology, and is committed to becoming the best partner of the global blockchain
entrepreneur.
Shuanghua Capital
Shuanghua Capital is a new prominent fund focusing on blockchain industry, which
registered in Cayman Islands. The scope of investment includes crypto currency, smart
contract, oracle, decentralized storage, decentralized database, cross chain trading,
consortium blockchain, etc.
THBU CAPITAL PTE.LTD
SMWM is a professional Venture Capital focusing on BlockChain and Fintech, which is
committed to finding excellent project and accelerating their development . Our teams are
from Tsinghua University, Peking University and overseas returnees, who have wide
experience in Blockchain industry , professional research capacity and keen insight into the
future development of Blockchain. SMWMhas abundant resources about institution investor,
talent and capital market, and has general investment layout in Blockchain industry. Hence,
SMWM can provide all-round and systematic post-investment service, and has had some
successful cases yet.
Tsinghua Alumni Fintech Capital
Tsinghua Alumni Fintech Capital is an investment firm that exclusively invests in companies
related to blockchain technology and Fintech. Our fund has an innovative operating model-
-we connect campus with capital and combinator to help entrepreneurs get starting fund,
connections, coaching and professional consulting. Tsinghua Alumni Fintech Capital
collaborates closely with funds including Zhen Fund, Aplus Capital, Plum Ventures, Skysaga
Capital, Legend Star, Future Capital, Tusstar, Flyfot Ventures, Collinstar Capital, Taiyou
Fund and Innoangel Fund to accelerate the development of the industry through investing
in the whole industrial chain and integrating resources. Our goal is to empower the whole
industry, so we make investments with high quality standard. We endeavor to find
companies with the potential to become the industry leaders and help them succeed with
our resources. With the resources of Tsinghua University and its alumni, we keep excellent
cooperative relations with Tsinghua related funds, Tsinghua Alumni TMT Association,
Tsinghua Holdings and Tsinghua Tongfang. Also, we stay closely cooperative relations with
our advisor—Digital Currency Lab of Central Bank. With an estimated $100 Million AUM, we
help our portfolio companies to achieve higher goals by offering funding support, deploying
resources and providing professional advices. Our portfolio includes KyberNetwork, Tezos,
NEO, Bluzelle, aelf, Icon, EOS, 0x, Trinity, Zilliqa, Gifto and Qash.
Crypto Vision Capital
Crypto Vision Capita Limited focuses in investing crypto currency, since founded in BVI,
Crypto Vision Capital has invested in several famous and successful ICO, obtained
supernormal returns. Main members graduated from top universities all over the world,
possessing rich investment experience in both primary and secondary markets. AUM is
around 1 billion yuan.
LD Capital
LD Capital is one of Asia's earliest organizations focusing on value investing in blockchain
field. Owing to industrial resource advantages and professional investment research teams,
LD Capital has successively discovered and invested in projects such as Qtum, Vechain
and Eos which all achieved over 100 times return. Our teams spread over China, the United
States, Europe, Singapore, Japan, and South Korea, and have accumulated rich experience
in areas of traditional internet, Fintech, and advanced blockchain technology. We are
committed to the globalization of blockchain and quality investment in the entire industry. LD
Capital focuses on blockchain innovation projects within finance, games, content publishing,
Internet of Things and other circuits, and we have been propelling broad layout of blockchain
technology and infrastructure construction to facilitate the comprehensive development of
the global blockchain ecosystem.
BN Capital
BN Capital is a new type of investment banking and investment institution focusing on the
blockchain sector. We provide high quality investment services for blockchain projects with
professional knowledge and continue to tap quality blockchain investment targets.
The Great Voyage Capital
The Great Voyage Capital, set up by NewBorn Town and Plum Ventures, is the first investing
fund focusing on the overseas mobile market in China. NewBorn Town is a mobile company
whose product portfolio has over 1 billion oversea users and Plum Ventures is a professional
vertical internet Venture Capital. The purpose of the Great Voyage Capital is to discover the
valuable early stage projects and teams in China who have strong wish to expand oversea
markets and have the capacity and potential to enlarge the Great Voyage Capital investment
portfolio. By joining the Great Voyage Capital, one could get support from end to end like
capital injection, resource sharing, mentor guidance and post-investment management
(lawyer, job hunter, media coverage and so on).
FROM INVESTMENT MANAGEMENT CO.,LTD.
FROM INVESTMENT MANAGEMENT CO.,LTD is a capital management company
registered in the Republic of the Marshall Islands. Our main business is providing investment
advice and investment management in the blockchain and cryptocurrency industry.
Appendix I: Summary of FansTime Product and Technology
Updating
1. Product Updating
Update Time: April 15th, 2018
See part of the Time Exchange blueprint as follows: